Home Benefit Plan Advantages Employee Benefit Plans: Life Insurance
College Fund Benefit Insurance
We also offer options to give members a unique way to provide their dependent children the financial opportunity of reaching their higher education goals. The College Fund provides the dependent children a specified death benefit should the covered member not be alive at the time when his/her children are pursuing a college opportunity.
Optional Protection for You and Your Family
The MEBS Group Option Program is available to eligible members through payroll deduction. All options listed below can only be purchased if a member is covered through the Basic Term Life Insurance Option.
Basic Term Life Insurance
Provides a $5,000 Term Life Insurance Benefit in the event of the death of a member. This also includes Accidental Death and Dismemberment and Seat Belt Coverage.
Group Term Life Insurance
Provides a death benefit (in $5,000 increments up to a maximum of $75,000) in the event of the death of a member. This also includes Accidental Death and Dismemberment and Seat Belt Coverage.
Survivor Income Benefit Insurance
In the event of a member's death, this option would provide up to sixty months of benefits to the eligible dependent survivors.
Group Joint Life Insurance
This option is designed for married families with dual incomes who need life insurance to protect their family members from financial loss should one spouse die prematurely. Both husband and wife are protected under one policy and one premium.
*No policy limitation and/or condition is waived or modified by reason of omission from this publication
Dependent Term Life Insurance
This option provides Term Life Insurance coverage for a member's spouse and unmarried children from live birth until the children attain the age of 25. Spouse benefits may be up to 50% of the member's Basic and Group Term Life amount, not to exceed a maximum of $40,000. Children's benefits may be up to 25% of the Member's Basic and Group Term Life Insurance up to a maximum of $20,000. This policy includes Accidental Death and Dismemberment and Seat Belt Coverage.
Dependent Term Life Insurance Alternative
We also offer options which will cover your spouse with $2,000 and each dependent child with $2,000 in Term Life Insurance protection for a single package monthly premium amount.
Associated Mutual group policies contain certain exclusions, waiting periods, limitations, reduction of benefits or terms under which the policy may be continued in force or discontinued. For costs, applicable certificates, riders and complete details of coverage, contact your contracted agent or Associated Mutual. No policy limitation and/or condition is waived or modified by reason of omission from this publication. These products are only intended as a brief description and illustration of the benefit options available and not a contract. Benefits are available to employers based upon group size, underwriting and state requirements. Payments are based on the Associated Mutual approved amount, less any applicable deductible and/or copays required by the plan. For more information please contact your contracted insurance agent or Associated Mutual at (800) 370-4349 ext. 150. Associated Mutual Insurance Co.©Copyright 2011. All rights reserved. 1100904AMMktg